Christmas Slow Sales For H&M

H&M, Europe's biggest high street retailer, warned of sluggish sales in the run-up to Christmas. The alert came days after H&M's rival at the cheaper end of the European fashion market, Spanish group Zara, reported disappointing third-quarter profits and warned of slowing sales growth this year. This reflected the situation at fashion stores across the UK and Europe, which have seen sluggish sales of the pricier winter clothes that traditionally bolster profit margins in the run-up to Christmas.

A host of British High Street names saw their share prices tumble last week after a warning from Matalan rattled confidence, while headlines about shops launching 'January' sales already has added to the air of gloom in the sector.